Lucent Warns First-Quarter Earnings Will Disappoint

Republished from 4:49 p.m. EST:

Lucent (LU Quote) shocked Wall Street Thursday afternoon by warning that first-quarter earnings will fall far short of expectations. Its shares fell sharply in after-hours trading, dropping 19 5/8, or 27%, to 53 1/16, as investors mulled over the company's difficulties.

Lucent (LU)

In explaining the shortfall, the Murray Hill, N.J., networking equipment maker cited manufacturing constraints, customer delays in network deployments, weakening software revenue and narrowing gross margins. ...